Using ICT Policy Framework as Panacea for Economic Recession and Instability ...AnthonyOtuonye
This document proposes an ICT-based strategic model for Nigeria to address its current economic recession. It begins with background on Nigeria's GDP decline in the first two quarters of 2016, confirming it is in recession. It then reviews literature on causes of recessions and proposed solutions for Nigeria, such as returning to agriculture or government spending cuts. However, the document argues for considering ICT's potential through initiatives like broadband expansion, e-governance, and ICT infrastructure development to create jobs, boost productivity and GDP. It develops a model linking ICT policy, entrepreneurship, broadband policy, and ICT in education to spur economic benefits. The document recommends full implementation of this ICT-driven model for Nigeria to facilitate quick
Need to Implement ICT-based Business Policies for Sustainable Economic Growth...AnthonyOtuonye
This document discusses the need for Nigeria to implement ICT-based business policies to promote sustainable economic growth. It notes that Nigeria has a large economy in Africa but can benefit from greater ICT integration. The document aims to identify how ICT can contribute to economic growth, determine barriers to ICT adoption across sectors in Nigeria, and assess ICT awareness to inform new business policies. It argues that ICT plays a fundamental role in development and competitive businesses, but ICT awareness remains low in Nigeria. The document concludes that the government should create an enabling environment for businesses through ICT-based policies to alleviate poverty and create jobs.
Effect of Small and Medium Enterprises on Employment Generation in Nigeriaijtsrd
Employing the regression model, this study examines the effect of small and medium enterprises on employment generation in Nigeria. The findings revealed that small and medium enterprise development and per capita income are statistically significant in explaining employment generation in Nigeria while commercial bank credits to SMEs, infrastructure, foreign aids and human capital development are statistically insignificant in explaining employment generation in Nigeria. The study recommends among others that the government should adopt high import tariff and low import quotas to encourage our local industries grow and create adequate employment thereby reducing dependence on imported goods. Edoko, Tonna David | Agbasi, Obianuju Emmanuela | Ezeanolue Uju Scholastica"Effect of Small and Medium Enterprises on Employment Generation in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-4 , June 2018, URL: http://www.ijtsrd.com/papers/ijtsrd14448.pdf http://www.ijtsrd.com/management/business-administration/14448/effect-of-small-and-medium-enterprises-on-employment-generation-in-nigeria/edoko-tonna-david
E-Government activities are still very low in Nigeria, a lower middle-income country, and this is hindering
E-Service adoption. E-Service is inextricably linked to E-Government and they will not develop separately,
but as one progresses the other moves forward. Having a new technology like E-service opens new
opportunities for government, private and public sectors. Despite the fact that the new technology will not
be without a hindrance, the overall benefits of using outweigh its lapses.
Nigeria has overtaken South Africa as top Africa economy. There is still more to be done in increasing the
revenue of the country, reducing the huge external debt owing the World Bank. Furthermore, there is a
need to sustain the new status as top economy in Africa. There are many unresolved problems like
corruption. This leads to a slow movement of files in offices, embezzlement, election irregularities, and port
congestions among others. Adoption of E-Service will help to reduce these problems and increase the
revenue base of the country.
This study will identify e-Service roles in economic development in Nigeria, a lower middle-income
country. The study is based on literature review methodology and recent online survey that shows the level
of E-Service awareness and roles. We shall also examine previous conference papers related to this study
and necessary recommendations will be suggested and offered to the authority in Nigeria on how best the
e-service adoption will add more success to the economic development.
Roles of e service in economic development, case study of nigeria, a lower-mi...IJMIT JOURNAL
E-Government activities are still very low in Nigeria, a lower middle-income country, and this is hindering
E-Service adoption. E-Service is inextricably linked to E-Government and they will not develop separately,
but as one progresses the other moves forward. Having a new technology like E-service opens new
opportunities for government, private and public sectors. Despite the fact that the new technology will not be without a hindrance, the overall benefits of using outweigh its lapses.
Nigeria has overtaken South Africa as top Africa economy. There is still more to be done in increasing the revenue of the country, reducing the huge external debt owing the World Bank. Furthermore, there is a need to sustain the new status as top economy in Africa. There are many unresolved problems like
corruption. This leads to a slow movement of files in offices, embezzlement, election irregularities, and port congestions among others. Adoption of E-Service will help to reduce these problems and increase the revenue base of the country.
This study will identify e-Service roles in economic development in Nigeria, a lower middle-income country. The study is based on literature review methodology and recent online survey that shows the level of E-Service awareness and roles. We shall also examine previous conference papers related to this study
and necessary recommendations will be suggested and offered to the authority in Nigeria on how best the e-service adoption will add more success to the economic development.
Law and DisorderCrucial matters that came up in the Supreme Court and Delhi High Court indicate a crisis in India’s basic governance. The CrPC and Police Acts clearly lay down that it is the job of DMs and SDMs to maintain law and order, but their role has been taken over by the police with questionable results.
This document discusses small and medium enterprises (SMEs) in Nigeria and Germany. It begins by providing background on the importance of SMEs for economic growth and development. It then notes challenges facing Nigerian SMEs, such as limited access to funds and lack of managerial capacity. The document aims to draw lessons from the success of German "Mittelstand" SMEs, which weathered the global economic crisis better than competitors. Key lessons for Nigerian SMEs include investing in human resources through vocational training, producing high-quality goods, investing in R&D, and providing after-sales services. For the government, lessons include improving infrastructure, creating an enabling business environment, and passing a
Consideration the causality between information communications technology and...Alexander Decker
This document examines the causal relationship between information and communications technology (ICT) development and economic growth in Iran.
It finds that there is a long-run equilibrium relationship between ICT development and economic growth in Iran based on cointegration tests. Specifically, the Johansen cointegration test shows there is one cointegrating relationship between ICT development proxies of mobile/fixed line subscribers and GDP as a proxy for economic growth.
A Granger causality test further reveals a one-way directional causality from ICT development to economic growth in Iran in the short-run. This indicates that ICT development Granger causes economic growth, but not vice versa, providing evidence in support of ICT-led economic growth
Using ICT Policy Framework as Panacea for Economic Recession and Instability ...AnthonyOtuonye
This document proposes an ICT-based strategic model for Nigeria to address its current economic recession. It begins with background on Nigeria's GDP decline in the first two quarters of 2016, confirming it is in recession. It then reviews literature on causes of recessions and proposed solutions for Nigeria, such as returning to agriculture or government spending cuts. However, the document argues for considering ICT's potential through initiatives like broadband expansion, e-governance, and ICT infrastructure development to create jobs, boost productivity and GDP. It develops a model linking ICT policy, entrepreneurship, broadband policy, and ICT in education to spur economic benefits. The document recommends full implementation of this ICT-driven model for Nigeria to facilitate quick
Need to Implement ICT-based Business Policies for Sustainable Economic Growth...AnthonyOtuonye
This document discusses the need for Nigeria to implement ICT-based business policies to promote sustainable economic growth. It notes that Nigeria has a large economy in Africa but can benefit from greater ICT integration. The document aims to identify how ICT can contribute to economic growth, determine barriers to ICT adoption across sectors in Nigeria, and assess ICT awareness to inform new business policies. It argues that ICT plays a fundamental role in development and competitive businesses, but ICT awareness remains low in Nigeria. The document concludes that the government should create an enabling environment for businesses through ICT-based policies to alleviate poverty and create jobs.
Effect of Small and Medium Enterprises on Employment Generation in Nigeriaijtsrd
Employing the regression model, this study examines the effect of small and medium enterprises on employment generation in Nigeria. The findings revealed that small and medium enterprise development and per capita income are statistically significant in explaining employment generation in Nigeria while commercial bank credits to SMEs, infrastructure, foreign aids and human capital development are statistically insignificant in explaining employment generation in Nigeria. The study recommends among others that the government should adopt high import tariff and low import quotas to encourage our local industries grow and create adequate employment thereby reducing dependence on imported goods. Edoko, Tonna David | Agbasi, Obianuju Emmanuela | Ezeanolue Uju Scholastica"Effect of Small and Medium Enterprises on Employment Generation in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-4 , June 2018, URL: http://www.ijtsrd.com/papers/ijtsrd14448.pdf http://www.ijtsrd.com/management/business-administration/14448/effect-of-small-and-medium-enterprises-on-employment-generation-in-nigeria/edoko-tonna-david
E-Government activities are still very low in Nigeria, a lower middle-income country, and this is hindering
E-Service adoption. E-Service is inextricably linked to E-Government and they will not develop separately,
but as one progresses the other moves forward. Having a new technology like E-service opens new
opportunities for government, private and public sectors. Despite the fact that the new technology will not
be without a hindrance, the overall benefits of using outweigh its lapses.
Nigeria has overtaken South Africa as top Africa economy. There is still more to be done in increasing the
revenue of the country, reducing the huge external debt owing the World Bank. Furthermore, there is a
need to sustain the new status as top economy in Africa. There are many unresolved problems like
corruption. This leads to a slow movement of files in offices, embezzlement, election irregularities, and port
congestions among others. Adoption of E-Service will help to reduce these problems and increase the
revenue base of the country.
This study will identify e-Service roles in economic development in Nigeria, a lower middle-income
country. The study is based on literature review methodology and recent online survey that shows the level
of E-Service awareness and roles. We shall also examine previous conference papers related to this study
and necessary recommendations will be suggested and offered to the authority in Nigeria on how best the
e-service adoption will add more success to the economic development.
Roles of e service in economic development, case study of nigeria, a lower-mi...IJMIT JOURNAL
E-Government activities are still very low in Nigeria, a lower middle-income country, and this is hindering
E-Service adoption. E-Service is inextricably linked to E-Government and they will not develop separately,
but as one progresses the other moves forward. Having a new technology like E-service opens new
opportunities for government, private and public sectors. Despite the fact that the new technology will not be without a hindrance, the overall benefits of using outweigh its lapses.
Nigeria has overtaken South Africa as top Africa economy. There is still more to be done in increasing the revenue of the country, reducing the huge external debt owing the World Bank. Furthermore, there is a need to sustain the new status as top economy in Africa. There are many unresolved problems like
corruption. This leads to a slow movement of files in offices, embezzlement, election irregularities, and port congestions among others. Adoption of E-Service will help to reduce these problems and increase the revenue base of the country.
This study will identify e-Service roles in economic development in Nigeria, a lower middle-income country. The study is based on literature review methodology and recent online survey that shows the level of E-Service awareness and roles. We shall also examine previous conference papers related to this study
and necessary recommendations will be suggested and offered to the authority in Nigeria on how best the e-service adoption will add more success to the economic development.
Law and DisorderCrucial matters that came up in the Supreme Court and Delhi High Court indicate a crisis in India’s basic governance. The CrPC and Police Acts clearly lay down that it is the job of DMs and SDMs to maintain law and order, but their role has been taken over by the police with questionable results.
This document discusses small and medium enterprises (SMEs) in Nigeria and Germany. It begins by providing background on the importance of SMEs for economic growth and development. It then notes challenges facing Nigerian SMEs, such as limited access to funds and lack of managerial capacity. The document aims to draw lessons from the success of German "Mittelstand" SMEs, which weathered the global economic crisis better than competitors. Key lessons for Nigerian SMEs include investing in human resources through vocational training, producing high-quality goods, investing in R&D, and providing after-sales services. For the government, lessons include improving infrastructure, creating an enabling business environment, and passing a
Consideration the causality between information communications technology and...Alexander Decker
This document examines the causal relationship between information and communications technology (ICT) development and economic growth in Iran.
It finds that there is a long-run equilibrium relationship between ICT development and economic growth in Iran based on cointegration tests. Specifically, the Johansen cointegration test shows there is one cointegrating relationship between ICT development proxies of mobile/fixed line subscribers and GDP as a proxy for economic growth.
A Granger causality test further reveals a one-way directional causality from ICT development to economic growth in Iran in the short-run. This indicates that ICT development Granger causes economic growth, but not vice versa, providing evidence in support of ICT-led economic growth
Effect of Fiscal Responsibility Act on Budgeting and Accountability Practice ...ijtsrd
This study examines the effect of the Fiscal Responsibility Act on budgeting and accountability practice in Nigeria's Fourth Republic. Specifically, the study determines the relationship between the pre and post effect of the Reform Act to ascertain if there is any significant difference in the management of the nation's fiscal operations. The study made use of secondary data obtained from the Central Bank of Nigeria Annual Reports and Accounts, the Central Bank Nigeria Statistical Bulletins and report of the Accountant General of the Federation as audited by the Auditor General of the Federation for the period under study. Six research questions and seven hypotheses were formulated to guide the study. The data generated for this study were presented in tables, graphs and mean scores and analyzed using the Statistical Package for Social Sciences version 22. The hypotheses were tested using the T test of difference and the Pearson Correlation r . Results revealed among others that the number of months of default on the publication of Federal Government Audited Accounts was reduced in the post Fiscal Responsibility Act era. Again, there is a significant negative trend in the mean corruption index after the introduction of the Act and that actual capital expenditure is more closely related to capital expenditure budget in the post than pre Fiscal Responsibility Act period. Based on the findings, we recommended that budgeting and accountability practice should be made more proactive by imbibing the culture of timely auditing and reporting standards as stated in sections 49 and 50 of the Fiscal Responsibility Act, 2007. Okegbe, T. O. "Effect of Fiscal Responsibility Act on Budgeting and Accountability Practice in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd26639.pdfPaper URL: https://www.ijtsrd.com/management/accounting-and-finance/26639/effect-of-fiscal-responsibility-act-on-budgeting-and-accountability-practice-in-nigeria/okegbe-t-o
Graduate unemployment in nigeria entrepreneurship and venture capital nexusAlexander Decker
This document discusses graduate unemployment in Nigeria and proposes ways to address it through entrepreneurship and venture capital. It begins by outlining the high rates of unemployment in Nigeria, including graduate unemployment which accounts for 32% of total unemployment. It then advocates for establishing a venture capital bank to provide loans to unemployed graduates with business ideas to encourage entrepreneurship. Finally, it recommends that universities update their curricula to reflect employer needs and that the government improve infrastructure to support private sector growth and job creation.
Poverty in the informal sector of kwara state nigeriaDr Lendy Spires
The document discusses poverty in the urban informal sector of Kwara State, Nigeria. It begins by outlining the importance of the informal sector in developing economies, employing 35-65% of the labor force and contributing 20-40% to GDP. Despite its economic contributions, the informal sector is where most of the poor are found. The study aims to examine poverty rates in Kwara State's informal sector by measuring prevalence, determining causes and consequences of poverty, and proposing interventions. It justifies the need for the study by noting previous poverty reduction strategies have failed due to lack of continuity and inadequate targeting of the poor.
This document discusses how entrepreneurship education can help reduce unemployment. It examines how teaching entrepreneurial skills to students can motivate them to start their own businesses after graduation, thereby creating jobs and lowering unemployment rates. The study investigates the impact of practical entrepreneurship education programs at four Nigerian universities on ex-students who are now running businesses. A survey was conducted of 150 ex-students currently operating businesses. The findings showed that entrepreneurship education is effective at motivating and empowering students to become entrepreneurs and job creators rather than job seekers. This in turn can significantly help reduce unemployment. The document recommends taking entrepreneurship education seriously and encouraging students at all levels to engage in entrepreneurial activities.
Industrial Revolution 4.0, the world over, is bringing a sea change in digitisation and technological automation. Compared to earlier revolutions, the Fourth is evolving at an exponential rather than a linear pace. Moreover, it is disrupting almost every industry in every country, and the breadth and depth of these changes herald the transformation of entire systems of production, management, and governance.
India is on a mission to completely embrace digitalisation and digitisation to transform the economic, social and administrative prospects of the country. In July 2015, Prime Minister Narendra Modi laid out his ambitious Digital India plan, with the goals of bridging the digital divide in the country, increasing global
competitiveness, fostering innovation and creating jobs. Just 18 months later, we're already seeing the immense impact of digitisation, not only in terms of GDP growth and job creation, but also, in improving the overall quality of life of citizens, and creating better access to jobs and educational opportunities.
The transition from policy to practice has been swift and steadfast. The Central Bank and government are rapidly bringing India’s population into the formal financial ecosystem. While the private sector continues to utilise and accelerate the spread of digitisation, the launch of central government initiatives such as Smart Cities, Digital India and the National Digital Literacy Mission and Broadband Highway, amongst many others, hold tremendous promise in transforming the socio-economic landscape.
Effects of Financial Management Reforms on Financial Corruption in Nigeria Pu...ijtsrd
This paper examined Financial Management Reforms and its Effect on Curbing Financial Corruption in Nigeria Public Sector. A survey design was adopted in the study and a sample of three hundred and twenty four 324 respondent which consist of Accountants and Auditors from Anambra state MDAs. The variables used for this study consists of dependent and independent variables. The dependent variable for this study is financial management reform proxy as IPSAS, TSA, IPPIS, and GIFMIS. The data generated were subjected to different statistical tests such as descriptive statistics, correlation analysis, jargua Bera normality test, and auto correlation test. The data gathered were finally analyzed using Ordinary Least Square OLS regression analysis. The study found that International Public Sector Accounting Standards IPSAS and Treasury Single Account TSA , when tested as standalone variables was found to be positively and statistically significant in curbing financial corruption. While Integrated Payroll and Personnel Information System IPPIS and Government Integrated Financial Management Information System GIFMIS when tested as standalone variable was found to be positively but insignificantly and negatively but insignificantly curbing financial corruption respectively across public sector in Nigeria. Meanwhile, the t statistic result of the interaction among these variable showed that their combination can go a long way in curbing financial corruption. The study recommends that, There should be Effective efficient monitoring, upgrading and sustenance of IPSASs, TSA, IPPIS and GIFMIS in the public sector, if Nigerian government is actually sincere and serious about tackling corruption in the country and stop cases of financial mismanagement, teaming and lading and prepare financial statements that could make full disclosure of every material facts and figures. This study, been the first and best of its type, makes a two major contributions to knowledge in a way that the variables used were tested as both stand alone and interactive variables, and the results are quite revealing. Onukelobi, Peace Chinwe | Okoye, Pius V. C. "Effects of Financial Management Reforms on Financial Corruption in Nigeria Public Sector" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-6 , October 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29255.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/29255/effects-of-financial-management-reforms-on-financial-corruption-in-nigeria-public-sector/onukelobi-peace-chinwe
Recently, IMF said that India will grew at 7.5% overtaking China as the fastest growing economy in 2015-16 due to recent policy initiatives made by government of India.But the prospects could change depending on the implementation of the reforms of the new Modi government.
This document outlines India's economic vision for 2020 and discusses barriers to achieving that vision. It summarizes Dr. Kalam's vision for India in 2020, which included doubling agricultural production and providing universal education and healthcare. It then discusses India's current economic scenario, including GDP growth of 8.8% and issues like high inflation and weaknesses in education and healthcare. Barriers to achieving the 2020 vision are identified as problems in agriculture, education, healthcare, energy, infrastructure, and communication access. The document also discusses how increased foreign direct investment could help improve the economy. It concludes by outlining actions India must take in areas like agriculture, energy, infrastructure, industry, healthcare and education to realize its 2020 economic vision.
Proposed solutions to the problems associated with the changing nature of wor...OtobongEssiet
MOOC final project on the proposed solution to the issues associated with the changing nature of work.
Over the last century, technology has created more jobs than it has displaced. This column presents an overview of ways in which technology and innovation are changing the nature of work, leading to demand advanced cognitive skills and greater adaptability among workers. The rise of platform marketplaces is also changing the way people work and the terms on which they work, which requires a rethinking of social protection systems.
This research work is the application of artificial neural network (ANN) and statistical method of
multiple regression analysis in predicting GDP in Nigeria collected from C.B.N annual statistical
bulletin 2014 covering from year 1979 to 2014. GDP representing economic growth as a function of
macroeconomic variables. Evident from the analysis shows that the independent variables are highly
correlated with the dependent variable of GDP, excepting the inflation rate having a negative
correlation value of approximately 0.4. However, the value of the goodness of fit (R2) is given as 0.812
(81.2%).
Based on the values of R2, MSE and RMSE and for comparison of efficiency between ANN and
regression analysis, it was discovered that ANN model outperforms regression analysis significantly
and thus achieve a better fit and forecast.
Emergence of india as an economic super powerKavya B.S
Four important strategies for our Economy to prosper is that of:
1) Inclusive growth
2) Environmental concern
3) Investment in innovation
4)Curbing of Black Money
thus explaining each of them.
Human capital refers to the skills, knowledge, and experience that contribute to productivity. In Nigeria, human capital is underdeveloped due to deficiencies in education and healthcare. Only 20.1% of the population has access to education, and over 10 million children are out of school. Healthcare also faces challenges, as doctors often misdiagnose conditions. According to the Human Capital Index, a child born in Nigeria will attain only 34% of their potential productivity, ranking Nigeria 152nd out of 157 countries. To improve, Nigeria must invest more in early childhood development, education, healthcare, and social protection.
Government Intervention, Subjective Norms and the Entrepreneurial Intentions ...ijtsrd
The economic situation presently in Nigeria is such that there is massive youth unemployment and underemployment in Nigeria. The situation as a result has made it difficult to access assistance from family and friends. The main objective of this paper was the investigation of the effect of government interventions and subjective norms on the entrepreneurial intentions of graduates of Nigeria Universities. A sequential mixed research design was adopted. A structured questionnaire was used to elicit responses from graduates of two universities located in Anambra State, Nigeria. A census of the 391 graduates was conducted. Interviews were conducted using ten selected purposively graduates from the sample. Statistical Package for Social Sciences was used to carry out moderated and mediated regression analyses. The data collected were analysed to enable the assessment of the impact of government intervention and subjective norm predictor on entrepreneurial intention dependent variable . The results showed significant mediated and moderated relationships which implied that government intervention explained the relationship between this predictor and subjective norm, and the entrepreneurial intention. It was the finding of the study that there is a need for government to urgently ensure a conducive environment that provides the improvement of the economic situation, thereby generally giving hope to the youths and enabling family and friends to be able to encourage, advise, and give financial support to the graduates. Government should be sincere and equitable in the distribution of intervention programmes targeting youths and the graduates and should guarantee equity in the implementation of government programmes. Uzoka, Onyechi Leonard | Nwaizugbo, I. Chukwudi "Government Intervention, Subjective Norms and the Entrepreneurial Intentions of Nigerian University Graduates" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd43691.pdf Paper URL: https://www.ijtsrd.commanagement/other/43691/government-intervention-subjective-norms-and-the-entrepreneurial-intentions-of-nigerian-university-graduates/uzoka-onyechi-leonard
The document discusses key economic indicators of India such as GDP growth, contributors to GDP, tax receipts, government expenditures, fiscal deficits, and their implications. It analyzes graphs showing India's strong GDP growth over the decades, rising contribution of the services sector to GDP, high government spending on interest payments and subsidies, and increasing fiscal deficits reflecting a growing debt burden on the government. The rising deficits are a concern as they are driven by non-developmental expenditures and could limit the government's ability to fund important infrastructure projects.
The document outlines Pakistan's PTI Digital Policy 2018. It notes that past governments failed to develop a long-term strategy for Pakistan's digital economy, while other countries used IT to strengthen their economies. The PTI policy aims to transform Pakistan into a knowledge economy by enabling 1 million high-paying IT jobs and boosting IT exports. Key areas of focus include e-government, human capital development, exports/market access, infrastructure, innovation, and business-friendly policies. A major National Digital Transformation Initiative will be launched, including establishing a Knowledge Economy Authority to oversee digital governance initiatives and coordination across government.
This document summarizes the current unemployment situation in India. It discusses how unemployment in India has increased to 7.6% in December 2019, with 18.6 million Indians unemployed. Major causes of unemployment include the caste system, slow economic growth, population increase, and inflexible government policies. The document also examines how unemployment affects the economy through lower GDP, increased government borrowing, lost human capital, and loss of earnings. It concludes that recent government policies have not promoted industry growth and some temporary industry shutdowns have occurred.
Indonesian Banking Outlook by Felia Salimppibelanda
The document summarizes Indonesia's economic challenges from a banking perspective to support an innovation-driven economy. It outlines that Indonesia faces structural problems such as dependency on agriculture/resources, poor infrastructure, low human resource quality, and inefficient bureaucracy that impact various sectors. Specifically, it notes Indonesia spends less than other Asian countries on research and development and has a dominant lower middle class segment. The document argues that creative, innovative solutions are needed to develop a value-added economy and addresses how banks can help finance non-basic sectors.
This study used error correction model (ECM) to analyse the causality between Value Added Tax (VAT) and the Nigerian Economy proxied by GDP during the period 1994-2015. The data such as VAT and GDP were obtained from Central Bank of Nigeria (CBN) statistical bulletin and Federal Inland Revenue Services (FIRS). The results of the findings revealed that VAT exerts positive and significant influence on GDP while there was evidence of unidirectional causality running from VAT to GDP. Therefore, the researchers recommend that in order to enhance economic growth of Nigeria through VAT revenue, there is need to plug all the lapses identified in tax administration and educate the tax administrators as well as the entire populace on the relevant of VAT revenue to the economy.
ENTREPRENEURSHIP DEVELOPMENT AND UNEMPLOYMENT IN NIGERIAIJM Journal
A number of policy intermediations in Nigeria that were targeted at inspiring and stimulating entrepreneurship development through small and medium scale enterprises have botched. In its place of creating in-country entrepreneurial capacity, entrepreneurs have been converted and become distribution agents of imported goods. This paper argues the development of entrepreneurship and stressed that it has been instrumental in economic growth, balanced regional development and job creation in most vibrant economies, where technology is changing at a faster rate and the product lifetime cycle is dwindling. This paper also looks at Nigeria’s growing unemployment situation and how it increasingly deteriorates the potentials of the country. It emphasizes the prominence and significance of entrepreneurship as realistic machinery for sustainable economic growth and employment generation in Nigeria seeing the experiences of developed nations like Australia, the United States and vibrant economies like China and India.
The document discusses unemployment in Nigeria and proposes technical and business skills acquisition as a solution. It begins by defining unemployment and examining trends, causes, and consequences in Nigeria. Past employment generation programs are assessed, showing limited impact. The document argues that a paradigm shift towards technical and business skills training could help address unemployment if challenges are overcome. This new approach is presented as necessary but not sufficient without other reforms to support entrepreneurship.
Determinants of Business Performance in the Nigerian Manufacturing Sectorijtsrd
This document summarizes a study that examined the determinants of business performance in Nigeria's manufacturing sector between 1980-2018. The study used secondary data from the Central Bank of Nigeria and an econometric model to analyze the impact of various macroeconomic variables (financial intermediation, infrastructure, market size, exchange rate, interest rate, and inflation rate) on business performance. The results found that financial intermediation, infrastructure, and market size had a positive impact on manufacturing, while exchange rate, interest rate, and inflation had a negative impact. All variables conformed to the study's expectations except infrastructure and inflation rate, and most were statistically significant, indicating they are good determinants of business performance in Nigerian manufacturing. The study recommends over
Effect of Fiscal Responsibility Act on Budgeting and Accountability Practice ...ijtsrd
This study examines the effect of the Fiscal Responsibility Act on budgeting and accountability practice in Nigeria's Fourth Republic. Specifically, the study determines the relationship between the pre and post effect of the Reform Act to ascertain if there is any significant difference in the management of the nation's fiscal operations. The study made use of secondary data obtained from the Central Bank of Nigeria Annual Reports and Accounts, the Central Bank Nigeria Statistical Bulletins and report of the Accountant General of the Federation as audited by the Auditor General of the Federation for the period under study. Six research questions and seven hypotheses were formulated to guide the study. The data generated for this study were presented in tables, graphs and mean scores and analyzed using the Statistical Package for Social Sciences version 22. The hypotheses were tested using the T test of difference and the Pearson Correlation r . Results revealed among others that the number of months of default on the publication of Federal Government Audited Accounts was reduced in the post Fiscal Responsibility Act era. Again, there is a significant negative trend in the mean corruption index after the introduction of the Act and that actual capital expenditure is more closely related to capital expenditure budget in the post than pre Fiscal Responsibility Act period. Based on the findings, we recommended that budgeting and accountability practice should be made more proactive by imbibing the culture of timely auditing and reporting standards as stated in sections 49 and 50 of the Fiscal Responsibility Act, 2007. Okegbe, T. O. "Effect of Fiscal Responsibility Act on Budgeting and Accountability Practice in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd26639.pdfPaper URL: https://www.ijtsrd.com/management/accounting-and-finance/26639/effect-of-fiscal-responsibility-act-on-budgeting-and-accountability-practice-in-nigeria/okegbe-t-o
Graduate unemployment in nigeria entrepreneurship and venture capital nexusAlexander Decker
This document discusses graduate unemployment in Nigeria and proposes ways to address it through entrepreneurship and venture capital. It begins by outlining the high rates of unemployment in Nigeria, including graduate unemployment which accounts for 32% of total unemployment. It then advocates for establishing a venture capital bank to provide loans to unemployed graduates with business ideas to encourage entrepreneurship. Finally, it recommends that universities update their curricula to reflect employer needs and that the government improve infrastructure to support private sector growth and job creation.
Poverty in the informal sector of kwara state nigeriaDr Lendy Spires
The document discusses poverty in the urban informal sector of Kwara State, Nigeria. It begins by outlining the importance of the informal sector in developing economies, employing 35-65% of the labor force and contributing 20-40% to GDP. Despite its economic contributions, the informal sector is where most of the poor are found. The study aims to examine poverty rates in Kwara State's informal sector by measuring prevalence, determining causes and consequences of poverty, and proposing interventions. It justifies the need for the study by noting previous poverty reduction strategies have failed due to lack of continuity and inadequate targeting of the poor.
This document discusses how entrepreneurship education can help reduce unemployment. It examines how teaching entrepreneurial skills to students can motivate them to start their own businesses after graduation, thereby creating jobs and lowering unemployment rates. The study investigates the impact of practical entrepreneurship education programs at four Nigerian universities on ex-students who are now running businesses. A survey was conducted of 150 ex-students currently operating businesses. The findings showed that entrepreneurship education is effective at motivating and empowering students to become entrepreneurs and job creators rather than job seekers. This in turn can significantly help reduce unemployment. The document recommends taking entrepreneurship education seriously and encouraging students at all levels to engage in entrepreneurial activities.
Industrial Revolution 4.0, the world over, is bringing a sea change in digitisation and technological automation. Compared to earlier revolutions, the Fourth is evolving at an exponential rather than a linear pace. Moreover, it is disrupting almost every industry in every country, and the breadth and depth of these changes herald the transformation of entire systems of production, management, and governance.
India is on a mission to completely embrace digitalisation and digitisation to transform the economic, social and administrative prospects of the country. In July 2015, Prime Minister Narendra Modi laid out his ambitious Digital India plan, with the goals of bridging the digital divide in the country, increasing global
competitiveness, fostering innovation and creating jobs. Just 18 months later, we're already seeing the immense impact of digitisation, not only in terms of GDP growth and job creation, but also, in improving the overall quality of life of citizens, and creating better access to jobs and educational opportunities.
The transition from policy to practice has been swift and steadfast. The Central Bank and government are rapidly bringing India’s population into the formal financial ecosystem. While the private sector continues to utilise and accelerate the spread of digitisation, the launch of central government initiatives such as Smart Cities, Digital India and the National Digital Literacy Mission and Broadband Highway, amongst many others, hold tremendous promise in transforming the socio-economic landscape.
Effects of Financial Management Reforms on Financial Corruption in Nigeria Pu...ijtsrd
This paper examined Financial Management Reforms and its Effect on Curbing Financial Corruption in Nigeria Public Sector. A survey design was adopted in the study and a sample of three hundred and twenty four 324 respondent which consist of Accountants and Auditors from Anambra state MDAs. The variables used for this study consists of dependent and independent variables. The dependent variable for this study is financial management reform proxy as IPSAS, TSA, IPPIS, and GIFMIS. The data generated were subjected to different statistical tests such as descriptive statistics, correlation analysis, jargua Bera normality test, and auto correlation test. The data gathered were finally analyzed using Ordinary Least Square OLS regression analysis. The study found that International Public Sector Accounting Standards IPSAS and Treasury Single Account TSA , when tested as standalone variables was found to be positively and statistically significant in curbing financial corruption. While Integrated Payroll and Personnel Information System IPPIS and Government Integrated Financial Management Information System GIFMIS when tested as standalone variable was found to be positively but insignificantly and negatively but insignificantly curbing financial corruption respectively across public sector in Nigeria. Meanwhile, the t statistic result of the interaction among these variable showed that their combination can go a long way in curbing financial corruption. The study recommends that, There should be Effective efficient monitoring, upgrading and sustenance of IPSASs, TSA, IPPIS and GIFMIS in the public sector, if Nigerian government is actually sincere and serious about tackling corruption in the country and stop cases of financial mismanagement, teaming and lading and prepare financial statements that could make full disclosure of every material facts and figures. This study, been the first and best of its type, makes a two major contributions to knowledge in a way that the variables used were tested as both stand alone and interactive variables, and the results are quite revealing. Onukelobi, Peace Chinwe | Okoye, Pius V. C. "Effects of Financial Management Reforms on Financial Corruption in Nigeria Public Sector" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-6 , October 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29255.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/29255/effects-of-financial-management-reforms-on-financial-corruption-in-nigeria-public-sector/onukelobi-peace-chinwe
Recently, IMF said that India will grew at 7.5% overtaking China as the fastest growing economy in 2015-16 due to recent policy initiatives made by government of India.But the prospects could change depending on the implementation of the reforms of the new Modi government.
This document outlines India's economic vision for 2020 and discusses barriers to achieving that vision. It summarizes Dr. Kalam's vision for India in 2020, which included doubling agricultural production and providing universal education and healthcare. It then discusses India's current economic scenario, including GDP growth of 8.8% and issues like high inflation and weaknesses in education and healthcare. Barriers to achieving the 2020 vision are identified as problems in agriculture, education, healthcare, energy, infrastructure, and communication access. The document also discusses how increased foreign direct investment could help improve the economy. It concludes by outlining actions India must take in areas like agriculture, energy, infrastructure, industry, healthcare and education to realize its 2020 economic vision.
Proposed solutions to the problems associated with the changing nature of wor...OtobongEssiet
MOOC final project on the proposed solution to the issues associated with the changing nature of work.
Over the last century, technology has created more jobs than it has displaced. This column presents an overview of ways in which technology and innovation are changing the nature of work, leading to demand advanced cognitive skills and greater adaptability among workers. The rise of platform marketplaces is also changing the way people work and the terms on which they work, which requires a rethinking of social protection systems.
This research work is the application of artificial neural network (ANN) and statistical method of
multiple regression analysis in predicting GDP in Nigeria collected from C.B.N annual statistical
bulletin 2014 covering from year 1979 to 2014. GDP representing economic growth as a function of
macroeconomic variables. Evident from the analysis shows that the independent variables are highly
correlated with the dependent variable of GDP, excepting the inflation rate having a negative
correlation value of approximately 0.4. However, the value of the goodness of fit (R2) is given as 0.812
(81.2%).
Based on the values of R2, MSE and RMSE and for comparison of efficiency between ANN and
regression analysis, it was discovered that ANN model outperforms regression analysis significantly
and thus achieve a better fit and forecast.
Emergence of india as an economic super powerKavya B.S
Four important strategies for our Economy to prosper is that of:
1) Inclusive growth
2) Environmental concern
3) Investment in innovation
4)Curbing of Black Money
thus explaining each of them.
Human capital refers to the skills, knowledge, and experience that contribute to productivity. In Nigeria, human capital is underdeveloped due to deficiencies in education and healthcare. Only 20.1% of the population has access to education, and over 10 million children are out of school. Healthcare also faces challenges, as doctors often misdiagnose conditions. According to the Human Capital Index, a child born in Nigeria will attain only 34% of their potential productivity, ranking Nigeria 152nd out of 157 countries. To improve, Nigeria must invest more in early childhood development, education, healthcare, and social protection.
Government Intervention, Subjective Norms and the Entrepreneurial Intentions ...ijtsrd
The economic situation presently in Nigeria is such that there is massive youth unemployment and underemployment in Nigeria. The situation as a result has made it difficult to access assistance from family and friends. The main objective of this paper was the investigation of the effect of government interventions and subjective norms on the entrepreneurial intentions of graduates of Nigeria Universities. A sequential mixed research design was adopted. A structured questionnaire was used to elicit responses from graduates of two universities located in Anambra State, Nigeria. A census of the 391 graduates was conducted. Interviews were conducted using ten selected purposively graduates from the sample. Statistical Package for Social Sciences was used to carry out moderated and mediated regression analyses. The data collected were analysed to enable the assessment of the impact of government intervention and subjective norm predictor on entrepreneurial intention dependent variable . The results showed significant mediated and moderated relationships which implied that government intervention explained the relationship between this predictor and subjective norm, and the entrepreneurial intention. It was the finding of the study that there is a need for government to urgently ensure a conducive environment that provides the improvement of the economic situation, thereby generally giving hope to the youths and enabling family and friends to be able to encourage, advise, and give financial support to the graduates. Government should be sincere and equitable in the distribution of intervention programmes targeting youths and the graduates and should guarantee equity in the implementation of government programmes. Uzoka, Onyechi Leonard | Nwaizugbo, I. Chukwudi "Government Intervention, Subjective Norms and the Entrepreneurial Intentions of Nigerian University Graduates" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd43691.pdf Paper URL: https://www.ijtsrd.commanagement/other/43691/government-intervention-subjective-norms-and-the-entrepreneurial-intentions-of-nigerian-university-graduates/uzoka-onyechi-leonard
The document discusses key economic indicators of India such as GDP growth, contributors to GDP, tax receipts, government expenditures, fiscal deficits, and their implications. It analyzes graphs showing India's strong GDP growth over the decades, rising contribution of the services sector to GDP, high government spending on interest payments and subsidies, and increasing fiscal deficits reflecting a growing debt burden on the government. The rising deficits are a concern as they are driven by non-developmental expenditures and could limit the government's ability to fund important infrastructure projects.
The document outlines Pakistan's PTI Digital Policy 2018. It notes that past governments failed to develop a long-term strategy for Pakistan's digital economy, while other countries used IT to strengthen their economies. The PTI policy aims to transform Pakistan into a knowledge economy by enabling 1 million high-paying IT jobs and boosting IT exports. Key areas of focus include e-government, human capital development, exports/market access, infrastructure, innovation, and business-friendly policies. A major National Digital Transformation Initiative will be launched, including establishing a Knowledge Economy Authority to oversee digital governance initiatives and coordination across government.
This document summarizes the current unemployment situation in India. It discusses how unemployment in India has increased to 7.6% in December 2019, with 18.6 million Indians unemployed. Major causes of unemployment include the caste system, slow economic growth, population increase, and inflexible government policies. The document also examines how unemployment affects the economy through lower GDP, increased government borrowing, lost human capital, and loss of earnings. It concludes that recent government policies have not promoted industry growth and some temporary industry shutdowns have occurred.
Indonesian Banking Outlook by Felia Salimppibelanda
The document summarizes Indonesia's economic challenges from a banking perspective to support an innovation-driven economy. It outlines that Indonesia faces structural problems such as dependency on agriculture/resources, poor infrastructure, low human resource quality, and inefficient bureaucracy that impact various sectors. Specifically, it notes Indonesia spends less than other Asian countries on research and development and has a dominant lower middle class segment. The document argues that creative, innovative solutions are needed to develop a value-added economy and addresses how banks can help finance non-basic sectors.
This study used error correction model (ECM) to analyse the causality between Value Added Tax (VAT) and the Nigerian Economy proxied by GDP during the period 1994-2015. The data such as VAT and GDP were obtained from Central Bank of Nigeria (CBN) statistical bulletin and Federal Inland Revenue Services (FIRS). The results of the findings revealed that VAT exerts positive and significant influence on GDP while there was evidence of unidirectional causality running from VAT to GDP. Therefore, the researchers recommend that in order to enhance economic growth of Nigeria through VAT revenue, there is need to plug all the lapses identified in tax administration and educate the tax administrators as well as the entire populace on the relevant of VAT revenue to the economy.
ENTREPRENEURSHIP DEVELOPMENT AND UNEMPLOYMENT IN NIGERIAIJM Journal
A number of policy intermediations in Nigeria that were targeted at inspiring and stimulating entrepreneurship development through small and medium scale enterprises have botched. In its place of creating in-country entrepreneurial capacity, entrepreneurs have been converted and become distribution agents of imported goods. This paper argues the development of entrepreneurship and stressed that it has been instrumental in economic growth, balanced regional development and job creation in most vibrant economies, where technology is changing at a faster rate and the product lifetime cycle is dwindling. This paper also looks at Nigeria’s growing unemployment situation and how it increasingly deteriorates the potentials of the country. It emphasizes the prominence and significance of entrepreneurship as realistic machinery for sustainable economic growth and employment generation in Nigeria seeing the experiences of developed nations like Australia, the United States and vibrant economies like China and India.
The document discusses unemployment in Nigeria and proposes technical and business skills acquisition as a solution. It begins by defining unemployment and examining trends, causes, and consequences in Nigeria. Past employment generation programs are assessed, showing limited impact. The document argues that a paradigm shift towards technical and business skills training could help address unemployment if challenges are overcome. This new approach is presented as necessary but not sufficient without other reforms to support entrepreneurship.
Determinants of Business Performance in the Nigerian Manufacturing Sectorijtsrd
This document summarizes a study that examined the determinants of business performance in Nigeria's manufacturing sector between 1980-2018. The study used secondary data from the Central Bank of Nigeria and an econometric model to analyze the impact of various macroeconomic variables (financial intermediation, infrastructure, market size, exchange rate, interest rate, and inflation rate) on business performance. The results found that financial intermediation, infrastructure, and market size had a positive impact on manufacturing, while exchange rate, interest rate, and inflation had a negative impact. All variables conformed to the study's expectations except infrastructure and inflation rate, and most were statistically significant, indicating they are good determinants of business performance in Nigerian manufacturing. The study recommends over
An assessment of the constraints of implementing technological innovative ent...Alexander Decker
This study examined the constraints to implementing technological entrepreneurship development programs in Nigeria. A survey was conducted of 160 small business owners. The results showed that accessibility to the programs (28.1%) and finance (24.2%) were the major limiting factors. Lack of awareness was the least constraining factor at 3.8%. In general, the study concluded that accessibility and finance are the primary constraints hindering the implementation of entrepreneurial development programs in Nigeria.
Taxation: The Instrument of Economic Growth in NigeriaAJHSSR Journal
ABSTRACT: The provision of basic infrastructures are very important to the economic development of a
nation. The extent to which the government is able to provide these amenities is determined by the number of
resources at the government's disposal. The inability of the government to provide these basic amenities have
led to the winding up and relocation of many multinational companies operating in Nigeria to other African
countries. As a result, this study investigated the effects of corporate income tax (CIT) and customs and excise
duty (CED) on economic growth. The study used a descriptive research design, and data from 1971 to 2020
were gathered from the Central Bank of Nigeria (CBN) statistical bulletin and Federal Inland Revenue Service
(FIRS) publicationThe study concluded that the provision of basic infrastructures will boost the economy and
will drive individual taxpayers towards a positive response to tax payments. This will increase the level of tax
compliance and result in additional revenue for the government.This study recommended that the government
should make developmental projects their top agenda item as the availability of infrastructural facilities is a
necessary condition for investment that will grow the economy.
KEYWORDS: Company Income Tax, Custom and Excise Duty, Economic Growth, Gross Domestic Product,
Taxation
Finding a recipe that unlocks rapid growth and job creation should be the priority of emerging economies. Several theories of growth, employment and wage determination were efficient for certain economies at different periods, but not for other emerging economies like Nigeria. This study presents the Labour-Entrepreneurship Substitution mechanism as an idealistic model of growth, employment and wage determination. It is uniquely designed to accumulate capital, substitute labour for entrepreneurship as prospective supply of labour grows beyond its initial level, boost employment and output via new investments. Error correction mechanism of Autoregressive least square technique was used to measure the influence of labour-entrepreneurship substitution rate on the ‘new investment’, and the t-statistics, adopting Benferron’s multiple comparison adjusted probabilities was further used to measure the significance of the ‘new investment’ in determining gross domestic product in Nigeria. The labour-entrepreneurship substitution rate showed significant and positive impact on the new investment as the new investment also showed significant and positive impact on economic growth in Nigeria. Emerging and developed countries should develop the labour-entrepreneurship substitution as this will increase investment and output while creating full employment in the country.
Technopreneurship and Enterprise Growth in Nigeria: An Exploration into the L...IOSR Journals
This document explores the potential role of microfinance banks in promoting technopreneurship and enterprise growth in Nigeria. It conducted a study using questionnaires distributed to 400 micro, small and medium enterprises across Nigeria's geopolitical zones. The study found a strong positive relationship between microfinance service availability and the development of technopreneurial drive and enterprise growth among Nigerian businesses. It recommends that improving access to financial services through microfinance banks can help accelerate technopreneurship and the growth of small and medium enterprises in Nigeria.
This document discusses economic planning and human capital development in Nigeria. It provides an analysis linking planned investments in education, healthcare, and social services to human capital outcomes over 1990-2016. The results show that planned education spending has a weak positive impact on life expectancy, and causes higher gender parity in primary and secondary enrollment. Planned spending on social services also causes higher life expectancy. Therefore, the author recommends that Nigerian economic planning should continue prioritizing medium- and long-term investments in education and social services to enhance human development.
This document summarizes a study that investigated the effect of technology adoption on the growth of youth-owned micro and small enterprises (MSEs) in Kenya. The study found that the majority of youth-owned MSEs lacked the capacity to acquire new technology and were not able to improve their products or services through technological innovation. MSEs often maintained their original products and services without innovation. The study recommends that MSEs be provided financial support to acquire appropriate technologies to enhance business growth. Governments should also encourage MSEs to adopt new technologies in order to increase innovation and competitiveness.
Analyzing the Effect of Government Expenditure on Inflation Rate in Nigeria 1...ijtsrd
Nigeria is a developing economy with active participation of the federal government in various economic sectors not only to promote economic growth and development but also to instill fiscal and economic discipline in the economy. Government participation in the economy means greater funding of economic activities and this is expected to impact on economic indicators. This study analyses the effect of government expenditure on inflation rate in Nigeria within a period of 39 years spanning 1981 2019 . The study specifically seek to ascertain, determine, explore and assess the extent to which government expenditures on key sectors of agriculture, education, health and telecommunications respectively affect inflation rate in Nigeria. In line with the specific objectives of this study, four research questions are raised and four hypotheses duly formulated. Data used for this study were collected from the Central Bank of Nigeria CBN Statistical Bulletin. Government Expenditure on Agriculture GOA , Government Expenditure on Education GOE , Government Expenditure on Health GOH and Government Expenditure on Telecommunication GOT are the independent variables while inflation rate INF is the dependent variable. Descriptive statistics, diagnostic test employing the Augmented Dickey Fuller and a multivariate regression based on Johanson Cointegration and Error Correction Model ECM are used to analyze the data. Our findings indicate that government expenditures on education and agriculture have positive but insignificant effect on inflation rate and on the other hand, government expenditure on health and government expenditure on telecommunications have positive and significant effect on inflation rate. Based on our findings, the study recommends that government should increase its allocation to the health and education sectors to trigger increased skills and healthcare of economic operators for enhanced human capital development and economic productivity. Government should also provide adequate infrastructures to facilitate economic growth and reduce high inflation rate. Mbanefo, Patrick Amaechi | Atueyi, Chidi Leonard "Analyzing the Effect of Government Expenditure on Inflation Rate in Nigeria (1981-2019)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-2 , February 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49237.pdf Paper URL: https://www.ijtsrd.com/management/management-development/49237/analyzing-the-effect-of-government-expenditure-on-inflation-rate-in-nigeria-19812019/mbanefo-patrick-amaechi
Can ICT Reduce Poverty and Unemployment and Elevate Development Integrating M...Dr. Amarjeet Singh
Information and Communication Technology
(ICT) can boost the performance of people and improve
overall human capital for the alleviation of poverty in a
society. Today, ICT is considered as one of the major
sources of driving force for the overall economic
development integrating with Micro, Small and Medium
Enterprises (MSMEs). The e-Commerce has a great role in
achieving business performance in the emerging Asian
countries. However, MSMEs are experiencing more
challenges that prevent them from further increasing their
business. The earlier studies question to which extent
MSMEs have benefited from these businesses. Therefore,
the main purpose of this study is to demonstrate the
importance of ICT in developing MSMEs based on the
success stories of emerging Asian countries. This study
based on subjective/argumentative i.e., idea generation in
Information Systems (IS). The findings of the study reveal
that the MSMEs utilizing ICT can alleviate poverty and
unemployment. It also reveals that MSMEs with ICT and
e-Commerce can enhance employment and new job
creation that can contribute to the overall economic
development. This study is expected to extend for further
an empirical investigation broadly on the same issue to
validate the research results.
Addressing poverty with integrated national data system sola bickerstethSola Bickersteth
With the release of the World Bank Development Report 2021 – Data for better lives. The Nigerian economy can be substantially improved by deliberately and successfully deploying an Integrated National Data System as detailed in the report.
For a country with such a wide array of untapped natural and human resources, there are substantial gains that can be achieved as well as the potential to also trigger by extension. the growth of the African economy in general.
This artefact is designed to galvanize the interest of the leadership of the various stakeholders both in the public and private sector and encourage them to take specific action for Nigeria towards implementing an Integrated National Data System.
Impact evaluation of credit on SMSE reconstruction and refinancingNewman Enyioko
This document discusses financing initiatives for small and medium enterprises (SMEs) in Nigeria. It provides context on the importance of SMEs for economic development and employment. Various Nigerian government institutions and definitions for SMEs are outlined. The document focuses on evaluating the various financing strategies and initiatives available to Nigerian entrepreneurs in SMEs, such as those established by the Small and Medium Industries Equity Investment Scheme (SMIEIS), Bank of Industry (BOI), and Nigerian Agricultural and Rural Development Bank (NACRDB). It was recommended that the government monitor the performance of these institutions to ensure they are effectively providing funds to SME operators.
This study examined the nexus between national information technology development levy and
financial performance of telecommunication companies in Nigeria. Three hypotheses were formulated and
statistically tested at 5 per cent level of significance. Four (4) quoted telecommunication companies constituted
the sample size of this study between 2010 and 2021. Ex-Post facto research design was adopted while
secondary data were extracted from the annual reports and accounts of the sampled companies and were
analysed using E-Views 10 statistical software
Impact of Commercial Banking on Nigeria Industrial Sectorijtsrd
This study examines the impact of commercial banking on Nigeria industrial sector using secondary data covering the period of 1980 2018 that were obtained from the Central Bank of Nigeria. The model's estimates were estimated via multiple econometric model of the ordinary least square to determine the effect of commercial bank credit to industrial sector, inflation, infrastructure, exchange rate, interest rate, labour force and bank capital on industrial sector proxied by industrial output. The results show that commercial bank credits to industrial sector, infrastructure, inflation, labour and bank capital have a positive impact on industrial sector while exchange rate has a negative impact on industrial sector but conforms to the a priori expectation. The study also found out that only commercial bank credits to industrial sector and infrastructure were significant in explaining industrial sector growth while other variables used in the study were all found to be non significant in explaining the growth rate of the industrial sector. The study concludes that adequate commercial banks credit intermediation in the industrial sector and government expenditure on the needed infrastructure will enhance the sector performance. Onwuteaka, Ifeoma Cecilia PhD | Molokwu, Ifeoma Mirian | Aju Gregory. C. ""Impact of Commercial Banking on Nigeria Industrial Sector"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-3 , April 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23140.pdf
Paper URL: https://www.ijtsrd.com/management/-/23140/impact-of-commercial-banking-on-nigeria-industrial-sector/onwuteaka-ifeoma-cecilia-phd
The document discusses the growth and development of Singapore over the past 50 years. It covers Singapore's strong economic growth and GDP increase, investments in educational and healthcare development that have contributed to high literacy rates and low infant mortality. It also describes Singapore's infrastructure developments, including major projects, that have positioned it as Asia's infrastructure hub with a robust ecosystem of professional services supporting projects.
6 the economic implications of monetization 60-71Alexander Decker
This document summarizes a study on the economic implications of monetization policy in Nigeria. Some key points:
1) Monetization policy in Nigeria involves converting fringe benefits that were previously provided to public servants in-kind, such as housing and vehicles, into cash payments. This was intended to reduce government spending and corruption.
2) However, the costs of running the government continued to escalate after monetization. There are also questions around whether the policy has been effectively implemented long-term.
3) The study uses regression analysis to examine the relationship between monetization and GDP in Nigeria, finding a significant but negative relationship. This suggests monetization has not achieved its goals of improving economic
This document discusses small and medium enterprises (SMEs) and their role in economic development in Nigeria. It provides background on definitions of SMEs, barriers to adoption of e-commerce among Nigerian SMEs such as costs and skills gaps, and government efforts to support SMEs through various programs and funds. The internet and mobile technologies are increasing opportunities for SMEs, but infrastructure and regulatory issues remain barriers. Overall SMEs represent most businesses and employment in Nigeria but have yet to achieve their full potential for economic growth.
Modeling Embedded Software for Mobile Devices to Actualize Nigeria's Vision AnthonyOtuonye
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against developing mental illness and improve symptoms for those who already suffer from conditions like anxiety and depression.
Framework for mobile application development using J2ME and UMLAnthonyOtuonye
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Mitigating corruption in public trust through e-governanceAnthonyOtuonye
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise boosts blood flow, releases endorphins, and promotes changes in the brain which help regulate emotions and stress levels.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Deploying content management system to enhance state governanceAnthonyOtuonye
This document discusses using a content management system (CMS) to enhance governance in Nigeria. It proposes designing an e-governance portal that employs a CMS to facilitate information sharing between government departments and citizens. This would allow citizens to monitor projects, provide feedback, and access services online. The document reviews e-governance models used successfully in other countries and argues that a CMS could improve governance in Nigeria by making government more efficient, transparent and responsive to citizens.
Bringing E gov Reforms in Africa through the Content Management SystemAnthonyOtuonye
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Improving quality of assessment for university academic programmesAnthonyOtuonye
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise boosts blood flow, releases endorphins, and promotes changes in the brain which help enhance one's emotional well-being and mental clarity.
Design of Improved Programme Assessment Model for Nigerian UniversitiesAnthonyOtuonye
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help boost feelings of calmness and well-being.
Emprical Study on Quality of Academic Programme Evaluation Framework: A step ...AnthonyOtuonye
The document discusses the benefits of meditation for reducing stress and anxiety. Regular meditation practice can help calm the mind and body by lowering heart rate and blood pressure. Making meditation a part of a daily routine, even if just 10-15 minutes per day, can offer significant health benefits over time such as improved focus, better sleep, and a more positive outlook.
A Model Design of Big Data Processing using HACE TheoremAnthonyOtuonye
This document presents a model for big data processing using the HACE theorem. It proposes a three-tier data mining structure to provide accurate, real-time social feedback for understanding society. The model adopts Hadoop's MapReduce for big data mining and uses k-means and Naive Bayes algorithms for clustering and classification. The goal is to address challenges of big data and assist governments and businesses in using big data technology.
A Novel Framework for Big Data Processing in a Data-driven SocietyAnthonyOtuonye
This document summarizes a journal article that proposes a novel big data processing framework. It begins by defining big data and noting the rapid rise in data from sources like social media, sensors, and the internet. It then describes challenges with analyzing this large, complex data. The paper introduces a three-tier big data mining structure that analyzes data from multiple sources on a single platform and provides real-time social feedback. It adopts the HACE theorem to characterize big data's size, heterogeneity, complexity and evolving nature. The framework uses Hadoop's MapReduce for distributed parallel processing. The study aims to fully leverage big data's benefits and enhance large-scale data management and analysis for governments and businesses.
A multi-factor Authentication System to Mitigate Student Impersonation in Ter...AnthonyOtuonye
A prototype system design and implementation of multi-factor authentication technique to forestall impersonation during semester examinations in tertiary institutions.
Development of Electronic Bank Deposi and Withdrawal System Using Quick Respo...AnthonyOtuonye
The document discusses developing an electronic bank deposit and withdrawal system using Quick Response (QR) code technology. It aims to reduce transaction times at bank tellers by having customers generate a QR code on their mobile device containing their account information. The teller can then quickly scan this code to validate the customer within seconds. This system is intended to reduce withdrawal/deposit transactions from 5-10 minutes currently to under 3 minutes. It will also allow customers to conduct multiple transactions with a single QR code, further speeding up the process. The system was developed using a prototyping methodology involving user surveys to gather requirements and ensure the system meets customer expectations for efficient banking services. Results showed the new QR code system provides improved operational efficiency and more
Ehanced Business Marketing For Small Scale Enterprises Via the Quick Response...AnthonyOtuonye
1) The document discusses using Quick Response (QR) code technology to enhance business marketing, especially for small and medium enterprises. QR codes allow consumers to digitally access online content and information by scanning a paper-based code with their smartphone.
2) It proposes a model for small enterprises to use QR codes to connect consumers from paper marketing materials to company websites, product information, and social media pages. This provides a low-cost marketing strategy to reach more potential customers.
3) The document argues that QR code technology can revolutionize business marketing by bridging the gap between digital and paper-based media, allowing customers to easily access online content through scanning codes with their smartphones.
Deep Behavioral Phenotyping in Systems Neuroscience for Functional Atlasing a...Ana Luísa Pinho
Functional Magnetic Resonance Imaging (fMRI) provides means to characterize brain activations in response to behavior. However, cognitive neuroscience has been limited to group-level effects referring to the performance of specific tasks. To obtain the functional profile of elementary cognitive mechanisms, the combination of brain responses to many tasks is required. Yet, to date, both structural atlases and parcellation-based activations do not fully account for cognitive function and still present several limitations. Further, they do not adapt overall to individual characteristics. In this talk, I will give an account of deep-behavioral phenotyping strategies, namely data-driven methods in large task-fMRI datasets, to optimize functional brain-data collection and improve inference of effects-of-interest related to mental processes. Key to this approach is the employment of fast multi-functional paradigms rich on features that can be well parametrized and, consequently, facilitate the creation of psycho-physiological constructs to be modelled with imaging data. Particular emphasis will be given to music stimuli when studying high-order cognitive mechanisms, due to their ecological nature and quality to enable complex behavior compounded by discrete entities. I will also discuss how deep-behavioral phenotyping and individualized models applied to neuroimaging data can better account for the subject-specific organization of domain-general cognitive systems in the human brain. Finally, the accumulation of functional brain signatures brings the possibility to clarify relationships among tasks and create a univocal link between brain systems and mental functions through: (1) the development of ontologies proposing an organization of cognitive processes; and (2) brain-network taxonomies describing functional specialization. To this end, tools to improve commensurability in cognitive science are necessary, such as public repositories, ontology-based platforms and automated meta-analysis tools. I will thus discuss some brain-atlasing resources currently under development, and their applicability in cognitive as well as clinical neuroscience.
BREEDING METHODS FOR DISEASE RESISTANCE.pptxRASHMI M G
Plant breeding for disease resistance is a strategy to reduce crop losses caused by disease. Plants have an innate immune system that allows them to recognize pathogens and provide resistance. However, breeding for long-lasting resistance often involves combining multiple resistance genes
EWOCS-I: The catalog of X-ray sources in Westerlund 1 from the Extended Weste...Sérgio Sacani
Context. With a mass exceeding several 104 M⊙ and a rich and dense population of massive stars, supermassive young star clusters
represent the most massive star-forming environment that is dominated by the feedback from massive stars and gravitational interactions
among stars.
Aims. In this paper we present the Extended Westerlund 1 and 2 Open Clusters Survey (EWOCS) project, which aims to investigate
the influence of the starburst environment on the formation of stars and planets, and on the evolution of both low and high mass stars.
The primary targets of this project are Westerlund 1 and 2, the closest supermassive star clusters to the Sun.
Methods. The project is based primarily on recent observations conducted with the Chandra and JWST observatories. Specifically,
the Chandra survey of Westerlund 1 consists of 36 new ACIS-I observations, nearly co-pointed, for a total exposure time of 1 Msec.
Additionally, we included 8 archival Chandra/ACIS-S observations. This paper presents the resulting catalog of X-ray sources within
and around Westerlund 1. Sources were detected by combining various existing methods, and photon extraction and source validation
were carried out using the ACIS-Extract software.
Results. The EWOCS X-ray catalog comprises 5963 validated sources out of the 9420 initially provided to ACIS-Extract, reaching a
photon flux threshold of approximately 2 × 10−8 photons cm−2
s
−1
. The X-ray sources exhibit a highly concentrated spatial distribution,
with 1075 sources located within the central 1 arcmin. We have successfully detected X-ray emissions from 126 out of the 166 known
massive stars of the cluster, and we have collected over 71 000 photons from the magnetar CXO J164710.20-455217.
The use of Nauplii and metanauplii artemia in aquaculture (brine shrimp).pptxMAGOTI ERNEST
Although Artemia has been known to man for centuries, its use as a food for the culture of larval organisms apparently began only in the 1930s, when several investigators found that it made an excellent food for newly hatched fish larvae (Litvinenko et al., 2023). As aquaculture developed in the 1960s and ‘70s, the use of Artemia also became more widespread, due both to its convenience and to its nutritional value for larval organisms (Arenas-Pardo et al., 2024). The fact that Artemia dormant cysts can be stored for long periods in cans, and then used as an off-the-shelf food requiring only 24 h of incubation makes them the most convenient, least labor-intensive, live food available for aquaculture (Sorgeloos & Roubach, 2021). The nutritional value of Artemia, especially for marine organisms, is not constant, but varies both geographically and temporally. During the last decade, however, both the causes of Artemia nutritional variability and methods to improve poorquality Artemia have been identified (Loufi et al., 2024).
Brine shrimp (Artemia spp.) are used in marine aquaculture worldwide. Annually, more than 2,000 metric tons of dry cysts are used for cultivation of fish, crustacean, and shellfish larva. Brine shrimp are important to aquaculture because newly hatched brine shrimp nauplii (larvae) provide a food source for many fish fry (Mozanzadeh et al., 2021). Culture and harvesting of brine shrimp eggs represents another aspect of the aquaculture industry. Nauplii and metanauplii of Artemia, commonly known as brine shrimp, play a crucial role in aquaculture due to their nutritional value and suitability as live feed for many aquatic species, particularly in larval stages (Sorgeloos & Roubach, 2021).
Comparing Evolved Extractive Text Summary Scores of Bidirectional Encoder Rep...University of Maribor
Slides from:
11th International Conference on Electrical, Electronics and Computer Engineering (IcETRAN), Niš, 3-6 June 2024
Track: Artificial Intelligence
https://www.etran.rs/2024/en/home-english/
When I was asked to give a companion lecture in support of ‘The Philosophy of Science’ (https://shorturl.at/4pUXz) I decided not to walk through the detail of the many methodologies in order of use. Instead, I chose to employ a long standing, and ongoing, scientific development as an exemplar. And so, I chose the ever evolving story of Thermodynamics as a scientific investigation at its best.
Conducted over a period of >200 years, Thermodynamics R&D, and application, benefitted from the highest levels of professionalism, collaboration, and technical thoroughness. New layers of application, methodology, and practice were made possible by the progressive advance of technology. In turn, this has seen measurement and modelling accuracy continually improved at a micro and macro level.
Perhaps most importantly, Thermodynamics rapidly became a primary tool in the advance of applied science/engineering/technology, spanning micro-tech, to aerospace and cosmology. I can think of no better a story to illustrate the breadth of scientific methodologies and applications at their best.
ESR spectroscopy in liquid food and beverages.pptxPRIYANKA PATEL
With increasing population, people need to rely on packaged food stuffs. Packaging of food materials requires the preservation of food. There are various methods for the treatment of food to preserve them and irradiation treatment of food is one of them. It is the most common and the most harmless method for the food preservation as it does not alter the necessary micronutrients of food materials. Although irradiated food doesn’t cause any harm to the human health but still the quality assessment of food is required to provide consumers with necessary information about the food. ESR spectroscopy is the most sophisticated way to investigate the quality of the food and the free radicals induced during the processing of the food. ESR spin trapping technique is useful for the detection of highly unstable radicals in the food. The antioxidant capability of liquid food and beverages in mainly performed by spin trapping technique.
Or: Beyond linear.
Abstract: Equivariant neural networks are neural networks that incorporate symmetries. The nonlinear activation functions in these networks result in interesting nonlinear equivariant maps between simple representations, and motivate the key player of this talk: piecewise linear representation theory.
Disclaimer: No one is perfect, so please mind that there might be mistakes and typos.
dtubbenhauer@gmail.com
Corrected slides: dtubbenhauer.com/talks.html
Travis Hills' Endeavors in Minnesota: Fostering Environmental and Economic Pr...Travis Hills MN
Travis Hills of Minnesota developed a method to convert waste into high-value dry fertilizer, significantly enriching soil quality. By providing farmers with a valuable resource derived from waste, Travis Hills helps enhance farm profitability while promoting environmental stewardship. Travis Hills' sustainable practices lead to cost savings and increased revenue for farmers by improving resource efficiency and reducing waste.
ESPP presentation to EU Waste Water Network, 4th June 2024 “EU policies driving nutrient removal and recycling
and the revised UWWTD (Urban Waste Water Treatment Directive)”
Current Ms word generated power point presentation covers major details about the micronuclei test. It's significance and assays to conduct it. It is used to detect the micronuclei formation inside the cells of nearly every multicellular organism. It's formation takes place during chromosomal sepration at metaphase.
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1.0 INTRODUCTION
Background of Study
Current statistics show that the ICT sector contributes 9.8 per cent to Nigeria's Gross
Domestic Product (GDP), [1]. Researchers and experts have opined that the ICT industry can
contribute in no small measure to national economic sustenance if given the proper attention
that it deserves. If the government can focus on the industry and encouraged key players in
the sector, Nigeria will come out of recession within the shortest possible time, especially
now that the country needs to diversify its economy from oil. Telecommunication and ICT
have been a major platform that drives most economies in developed nations of the world and
can contribute to the growth of any economy if the government can remove all inhibiting
barriers to IT-based organizations and corporate enterprises and provide digital configuration
for all business processes. There is need to adopt business transformation procedures based
on ICT-driven models that facilitate efficient manufacturing, development, and outsourcing
base in our economic setup. There is no better time than now to diversify our economy and
promote the ICT industry to play the major role in the recovery and sustenance of our ailing
national economy.
The National Bureau of Economic Research (NBER) defined a recession as ”A significant
decline in economic activity spread across the economy, lasting more than a few months,
normally visible in a real gross domestic product (GDP), real income, employment, industrial
production, and wholesale-retail sales”. An Economic recession can also be defined as a
negative real GDP growth rate for two consecutive quarters. In view of the above definition,
Nigeria is currently in an economic recession since her GDP growth rate in the first and
second quarters of 2016 were -0.36% and -1.5% respectively.
The International Monetary Fund (IMF), as well as the Central Bank of Nigeria, have agreed
that the Nigerian economy has entered a recession and asserted that the economy may not
regain stability too soon going by the low growth rate of 1.5%. Recessions generally occur
when there is a widespread drop in spending. This may be triggered by various events, such
as a financial crisis, an external trade shock, an adverse supply shock or the bursting of an
economic bubble [3].
The recession will always show clearly in Macroeconomic indicators such as GDP (gross
domestic product), investment spending, capacity utilization, household income, business
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profits, and inflation. Other indicators may include bankruptcies and unemployment rate rise.
Many researchers and scholars have tried to present remedy to the current economic
recession in Nigeria. For example, [3] advocates a “return to agriculture” as the solution to
the crisis when he states thus “The current economic realities not only require a return to
agriculture, the future and well-being of generations of Nigerians yet unborn demands it.",
and concluded by calling on the government to revisit the river basin schemes in order to
improve agricultural fortunes of Nigeria.
In the same vein, other researchers such as [6] have suggested heavy cut back on government
spending as the remedy for economic recession. Other researchers, in their own wisdom,
recommend to the government to respond to recessions by adopting expansionary
macroeconomic policies, such as increasing the money supply, increasing government
spending and decreasing taxation.
However, there is need to critically look into the case of Nigeria, with its peculiarities and
current economic realities with a view to proffering lasting solution to this challenge. There is
need to consider an ICT-driven economy and take a critical look at its potentialities and
ability to create jobs for the teaming population. There are untapped areas of ICT such as
cloud computing with data centers designed in such as way that data sovereignty is ensured
and is kept within the country‟s own jurisdiction, which leads to local employment for the
youth and skills acquisition and development that fits Nigeria‟s idiosyncratic environment.
There is the need for broadband development that creates new opportunities for SME(s) and a
civic society to harness the new wealth looming in the digital space. Software development,
Software Outsourcing, Expert Systems, and Artificial Intelligence (AI) is changing the way
we interact with the environment and deal with new complexities in our societies. We need to
quickly adopt e-Governance systems to transform the way we manage government
procedures and the way government interacts with its citizens. There is need to build ICT
infrastructure that ensures affordability, accessibility, and availability of communication
infrastructure to all communities in Nigeria.
All these require human resources to be deployed in the roll-out, deployment, maintenance,
and enhancement of all such systems, which ultimately leads to employment, the greater
spending power of those engaged in these activities and the corresponding improvement in
living standards and purchasing power of the citizenry.
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It is possible to create an ICT-base society which creates an army of agents that are
contributing taxes to the government‟s coffers and boost productivity to our national GDP.
We can learn from Singapore, Dubai and other countries that built such Smart Cities where
such initiatives have propelled the society into becoming a significant contributor in the
digital race. Nigeria can afford to provide affordable access to broadband Internet for all her
citizens as articulated in a Broadband4All Forum initiative of 2010.
According to [13], four strategic plans can be articulated for Nigeria, namely: an ICT Policy,
a Broadband Plan, an Entrepreneurship Roadmap, and a Local Content Development Agenda.
There is, therefore, need to highlight the unique role that ICT diffusion can play in the
economic transformation of this country and to remedy the ugly trend of economic recession
in Nigeria. There is need to look into critical areas of the economy apart from Agriculture,
considering the present economic realities in Nigeria, and to create an ICT-driven remedy for
her sustainable economic growth.
1.1 Aim and Objectives of the Study
This research paper aims at developing an ICT-based strategic model for Nigeria as a panacea
for her current economic recession.
Specific objectives include:
i. To highlight the causes of current economic recession in Nigeria based on a theoretical
study
ii. To propose an ICT-driven model for a sustainable economic growth in Nigeria.
iii. To make recommendations for a way forward.
2.0 LITERATURE REVIEW
2.1. Theoretical Framework
2.1.1 Economic Recession in Nigeria – An Overview
Just what is meant by the word “recession”? Wikipedia defines recession as: “…a negative
economic growth for two consecutive quarters”. It is also a business cycle contraction which
results in a general slowdown in economic activity. Macroeconomic indicators such as GDP
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(gross domestic product), investment spending, capacity utilization, household income,
business profits, and inflation fall, while bankruptcies and the unemployment rate rise.
Recessions generally occur when there is a widespread drop in spending (an adverse demand
shock). This may be triggered by various events, such as a financial crisis, an external trade
shock, and an adverse supply shock. Governments usually respond to recessions by adopting
expansionary macroeconomic policies, such as increasing the money supply, increasing
government spending and decreasing taxation.
2.1.2 Causes of Economic Recession
Many factors contribute to an economy's fall into a recession, but the major cause is inflation.
Inflation refers to a general rise in the prices of goods and services over a period of time.
Inflation is defined according to Investopedia as a sustained increase in the general level of
prices for goods and services. It is measured as an annual percentage increase. As inflation
rises, the money you own can only buy a smaller percentage of a good or service.
In the case of Nigeria according to [6], the low prices of oil, the volatile state of oil
production in Nigeria, bad debts gathered over time, has led to lower purchasing power and
foreign exchange scarcity.
In the same vein, [7] listed the following as the general causes of economic recession:
1. High inflation (a general rise in price of goods and services, leading to low purchasing
power)
2. Accumulation of debt servicing, especially foreign debts
3. High-interest rate, discouraging investors
4. Fall in aggregate demand, due to falling in wages and income
5. Mass unemployment, and
6. General loss of confidence in government due to economic indices
Basically, the current economic recession in Nigeria is caused by a combination of factors
including a dip in oil prices, and government spending, which has led to inflation.
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According to [7], “Economic recessions are caused by a loss of business and/or consumer
confidence”. This loss of confidence makes businesses and/or consumers stop buying and
move into defensive mode. Once a critical mass moves toward the exit sign, panic sets in and
creates a destructive downward spiral. As a result, what you get is mass layoffs and rising
unemployment, which create a slowdown in retail sales. Manufacturers cut back in reaction
to falling orders, further increasing layoffs.
A decline in GDP growth is a sign that a recession may be underway, but it is rarely a cause.
The reason for this is that GDP is only reported on after the quarter is over. By the time GDP
has turned negative, the recession may already be underway [7].
Existing literature has further identified the following five important causes and signs of an
economic recession:
a. High-interest rate: When rates rise, they limit liquidity or the amount of money available
to invest.
b. A stock market crash: The sudden loss of confidence in investing can create a subsequent
decline in the stock market.
c. Falling housing prices and sales. As homeowners lose equity, it forces a cutback in
spending as they can no longer take out second mortgages. Over time, it will cause
foreclosures. This was the initial trigger that set off the Great Recession, but for different
reasons. Banks that lost money on the complicated derivatives based on underlying home
values.
d. A slowdown in manufacturing orders. This usually happens before recession finally hits.
e. Massive swindles. The 1990 recession was caused by the savings and loans crisis. More
than 1,000 banks (total assets of $500 billion) failed as a result of land flips, questionable
loans, and illegal activities.
2.1.3 Contribution of ICT to Improvement of National GDP
Researchers and experts in the field of Information and Communication Technology have
opined that the ICT industry can do more if the government can prioritize the sector. For
example, [2] in their article titled “How ICT can Improve Economy, by Experts” they stated
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that calls have again gone to the Federal Government to prioritize the Information and
Communications Technology (ICT) sector.
According to the President of the Association of Telecommunications Companies of Nigeria
(ATCON), Olushola Teniola, telecommunications and ICT, in general, can contribute to the
economy if government can remove all inhibiting barriers to organisations, corporates, and
enterprises, adopt business transformation to their business models, and provide a digital
configuration for all business processes, which integrates with best practices that facilitate an
efficient manufacturing, outsourcing, and development base in our economic setup.
From an international perspective, the Managing Director of Huawei Nigeria, Frank Li,
observed that “to fast-track the nation's development through ICT, governments should lead
by example in digital transformation for enterprises and citizens, and increase spending on
ICT infrastructure to benefit the public”.
Li said countries need to introduce and train a skilled ICT workforce to unleash the full
potential of a digital economy, adding that capacity building is a key. The government can
encourage ICT professional training and encourage more talented Nigerians to go into the
ICT sector and train a more skilled workforce, which will benefit the industry eventually. It
will clearly be an incentive for growth for the industry if the market has more talented and
skilled ICT people who have the understanding and deeper knowledge of its working
principles. This can help the industry to develop.
Nigeria should partner with more stakeholders to lay a solid digital foundation, encourage
cross-domain cooperation, and collaborate with the private sector and financial institutions to
create an ecosystem for digital transformation.
For the Director-General, Delta State Innovation Hub (DSIHUB), Chris Uwaje, moving
forward, in both government and the business worlds, the understanding is that the
organizations, which will benefit most from the transformative role of IT are those which
treat IT as a key strategic resource for achieving organisational goals rather than as a purely
technical input. Uwaje opined that there should be infinite passion and commitment to
deploying science; inventions and technology for national development and that wealth
creation should be the highest priority of government and stakeholders without boundaries.
He suggested that “The foot-dragging or better „mind-dragging „attitude at the desk of policy
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makers are probably not backgrounded on a lack of good intention, but indeed on
Technophobia and perhaps deep ignorance within the decision-making value chain”.
Other critical factors that have slowed down the innovation accelerator component of the
process is the seeming silent disconnect between the academia, the industry and the
government at critical points of the ICT development Ecosystem. This is a serious concern
which calls for urgent consideration for the enthronement of a National IT Framework Bill
(NITFB). Researchers have even encouraged the enactment of an Act to establish the Office
of the IT General of the Federation (OITGF).
According to Uwaje, a former President, Institute of Software Practitioners of Nigeria
(ISPON), a nation that has exponential growth, driven by excessive import-based
conspicuous consumption without reciprocal and meaningful innovation-centric development
strategy and handsome revenue from that source, has no future – especially when her
population growth index is over 4.2 per cent yearly compared to the 2.5 percent growth of the
economy.
With a vibrant population surging at the edge of 200 million people with a very rich history,
the Nigerian nation seems to have been submerged in the ocean of globalization and currently
experiencing the impact of the cumulative challenges of converged centrifugal forces at the
corridors of innovation, technology, creativity, internationalisation of trade interests, power,
leadership and directions.
For the President, National Association of Telecoms Subscribers of Nigeria (NATCOMs),
Chief Deolu Ogunbanjo, “democracy is gradually getting stabilized in the country, but in
terms of ICT penetration, we are not there yet.”
To move forward as a country, according to Ogunbanjo, there was the need to harness all the
leakages in the system of governance.
While calling for the step down of the proposed Communications Service Tax bill, which
seeks to impose additional nine percent taxation on a usage of ICT in Nigeria, the NATCOMs
observed that some countries including Ghana and some North African nations are rather
reducing taxes, which are targeted specifically at ensuring deeper penetration of ICT.
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Ogunbanjo urged that youths should be encouraged to develop solutions that will solve social
problems, and pointed out that regulation, especially in the telecoms segment, should be to
favor subscribers. For instance, according to Ogunbanjo, “We still are still bombarded with
unsolicited SMS; operators have refused to roll back unused data, among others”.
3.0 MATERIALS AND METHODS
3.1 Choice of Structural Framework for the Study
3.1.1 The Roger’s Innovation Decision Process Theory
This study was centered on the theory of Diffusion of Innovations [10]. According to [10],
diffusion research centers on the conditions, which increase or decrease the likelihood that
members of a given culture will adopt a new idea, product, or practice. According to him,
people‟s attitude toward a new technology is a key element in its diffusion. Since Rogers uses
the terms innovation and technology interchangeably (p. 12), the diffusion of innovation
framework seems particularly suited for the study of the diffusion of ICT in Nigeria. Roger‟s
Innovation Decision Process theory states that innovation diffusion is a process that occurs
over time through five stages: knowledge, persuasion, decision, implementation, and
confirmation. Accordingly, the innovation-decision process is the process through which an
individual or other decision-making unit passes 1. From first knowledge of an innovation, 2.
To forming an attitude toward the innovation, 3. To a decision to adopt or reject, 4. To
implementation of the new idea, and 5. To confirmation of this decision [10], p. 161).
3.1.2 The CIPP Evaluation Model
The digital framework adopted in this study is based on the CIPP Evaluation Model, which is
a comprehensive framework for guiding evaluations of programs, projects, institutions, and
systems particularly those aimed at effecting long-term, sustainable improvements [11]. The
acronym CIPP corresponds to context, input, process, and product evaluation. In general,
these four parts of an evaluation respectively ask: What needs to be done? How should it be
done? Is it being done? Did it succeed? The CIPP Evaluation Model equally serves as a
conceptual framework for researchers on ICT implementation and impact assessment [1].
The product evaluation in this model is suitable for studies such as ours in this research work
on ICT diffusion in Nigeria to boost economic activities for a sustainable economic growth.
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This type of study is a summative evaluation conducted for the purpose of accountability
which requires determining the overall effectiveness or merit and worth of an implementation
[11]. It requires using impact or outcome assessment techniques, measuring anticipated
outcomes, attempting to identify unanticipated outcomes and assessing the merit of the
policy. It also helps the broader group of users gauge the effort‟s success in meeting targeted
needs. The first element, “impact”, assesses whether the diffusion of ICT facilities into the
nation‟s daily life has a direct effect on the economy, whether any or all aspects of the
economy changed as a result of this diffusion, etc. Effectiveness checks whether the
deployment achieves intended and unintended benefits, or if it was effective for the purpose
of improved national GDP. Transportability measures whether there are any changes in real
income and its improved effects that can be directly attributed to the deployment of ICT
facilities. Lastly, sustainability looks into how lasting the effect of the ICT deployment will
be in the society [11].
Figure 3.1 The CIPP Evaluation Model – developed based on Stufflebeam (2007)
4.0 MODEL FORMULATION AND DISCUSSIONS
4.1 Our Proposed ICT-driven Model for a Sustainable Economic Growth
The new ICT-driven model proposed in this research work is based on the theory of
Diffusion of Innovations [10], the CIPP Evaluation, implementation and impact assessment
model [1], and the ICT-impact assessment model, which is a conceptual framework for
research in impact assessment generated from [1] study.
Inputs
Context
Process
Product
Impact
Effectiveness
Transportability
Sustainability
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4.2 Major Elements of the Model
Our new model will compose of the following four key elements: direct positive effects,
challenges, incentives, and integration. The form of this model is cyclic because the
assessment process can start from any stage, and can be done either individually or
holistically making it useful for both formative and summative assessment of ICT integration
into our daily life. The cyclic representation also indicates the central strength that the
elements in the model provide to ICT impact and depicts that: to assess ICT impact, the
process can start from any of the four elements. The first element of the model – positive
effects are in terms of benefits of ICT in wealth creation, bridging the digital divide across
nations, and availability of information through effective utilization cyberspace and the
internet.
The second element which is incentives are provided in the form of the motivation of entire
workforce, adequacy of IT infrastructure, access to IT services, and training of graduates to
become ICT-compliant.
Next is the level of integration via an ICT policy, a broadband policy, an entrepreneurial
roadmap (policy), a local content development agenda, and an ICT component policy for all
educational disciplines. This could be measured by looking at the last element – barriers and
challenges to the limitation in the level of ICT integration. The challenges include an
epileptic power supply in Nigeria, inadequate funding by government, inadequate IT
infrastructure, administrative bottlenecks, poor maintenance culture, slow legislative
processes, and tendency to resist change that would turn around the persisting culture in any
environment.
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Figure 4.1. The proposed ICT-driven Model for a Sustainable Economic Growth in
Nigeria
4.3 DISCUSSIONS
The proposed ICT-driven model for Nigeria‟s economic growth is shown in figure 4.1. The
model is all-encompassing and comprises of four major elements in a harmonious
relationship to ensure sustainable economic growth in Nigeria. These elements include
Integration, Incentives, Challenges, and Direct Positive Effects.
Wealth Creation
Bridging the digital
divide across nations
Effective utilization
of cyberspace and
the internet
In an ICT Policy
In a Broadband Policy
In an Entrepreneurship
Roadmap (Policy)
In a Local Content
Development Agenda
In an ICT Component
Policy for all
Disciplines
Direct Positive Effects Integration
Challenges
Inadequate IT Infrastructure
Administrative Bottlenecks
Inadequate Funding
Tendency to Resist Change in a
Persisting Culture
Epileptic Power Supply in Nigeria
Sustainable ICT-based
Economic Growth
Incentives
Motivation of Workforce
Access to IT Services
Adequacy of Infrastructure
Funding
Training of Graduates to
become ICT-compliant
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4.3.1 The “Integration” Element
There should be an integration of ICT into the following areas of our economic life to ensure
economic benefits to the Nigerian state, an ICT policy, an entrepreneurial roadmap, a
broadband policy, a local content development agenda, and an ICT component policy for all
educational disciplines.
An Information and Communication Technology (ICT) policy is an official statement which
spells out the objectives, goals, principles, and strategies, intended to guide and regulate the
development, operation, application, and diffusion of ICT into our business setup. ICT
policies must take into account other policies such as education policies, trade and investment
policies, foreign policy, monetary policy, transport policy, etc. The need for ICT policies has
been recognized by the African administrators [4]. There is need to establish a basic network
and telecommunications infrastructure within Africa, allowing intra-African telecom traffic,
largely avoiding the previous long, complex and very expensive transit routes through
Europe. ICT is the backbone of business activity, productivity, trade and social development.
For a developing country like Nigeria and other West African countries, effective
implementation of ICT policies is a precondition to the emergence of a strong market
economy. The growth of industries and enhancement of social activities largely depends on
effective implementation of ICT policies. Research findings have also shown the correlation
between ICT policy implementation and Gross Domestic Product (GDP) and the accruing
economic and social benefits which include social change, connectivity, decentralization, and
accessibility.
An entrepreneurship roadmap is needed and is critical in stimulating a sustainable economic
growth in Nigeria, especially now the country is facing its worst challenges economically. All
over the world, Small and Medium Scale Enterprises (SMEs) remain the bedrock of any
economy. SMEs act as the driver to of national economic growth [5], and they possess great
potentials for employment generation, improvement of local technology output
diversification and development of indigenous entrepreneurship. The government can create
new policies that remove all inhibiting barriers to organizations and corporate bodies and
encourage a new digital configuration that integrates best practices that facilitate efficient
manufacturing, outsourcing, and developmental base in our economic setup.
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4.3.2 The “Incentives” Element
For the ICT model to succeed in Nigeria, there is need to motivate the entire workforce,
enable access to IT services, make available adequate IT infrastructure, government funding,
and motivate the training of all university and polytechnic graduates to become ICT-
compliant.
4.3.3 The “Challenges” Element
The following challenges have been identified as to possible hindrances to the full
implementation of the ICT model in Nigeria: epileptic power supply, administrative
bottlenecks, inadequate IT infrastructure, inadequate funding, and tendency to resist change
that can turn things around in any persisting culture.
5.0 CONCLUSION AND RECOMMENDATIONS
5.1 Conclusion
This research work has developed a new ICT-based strategic model for national economic
growth and sustainable development. Implementation of the model framework will be a
panacea for the current economic recession in Nigeria which now has her GDP growth rate in
the first and second quarters of 2016 at -0.36% and -1.5% respectively, and where there is
now, a significant decline in economic activity spread across the economy, and visible in a
real gross domestic product (GDP), real income, employment, industrial production, and
wholesale-retail sales. The research has also established the perceptions of other researchers
and experts in the IT sector with regards to the challenges and benefits of ICT diffusion in
Nigeria.
Discussions carried out on the model shows that all the elements of the framework including
Integration, Incentives, Challenges, and Direct Positive Effects, can relate harmoniously to
ensure economic benefits to the Nigerian state via the following channels: an ICT policy, an
entrepreneurial roadmap, a broadband policy, a local content development agenda, and an
implementation of ICT component policy in all educational disciplines across the nation.
15. www.ijsrm.humanjournals.com
Citation Dr. Otuonye Anthony I. et al. Ijsrm.Human, 2017; Vol. 6 (4): 138-152.
152
5.2 Recommendations
We recommend the full implementation of the new ICT-driven model developed in this
research work for a quick recovery of the Nigerian economy and for her sustainable
economic growth. It is recommended that Nigerian government should fully embrace the
application of ICT into the socio-economic and political life of the people by adopting and
implementation of ICT policies and adequate investment in IT infrastructure and Information
and Communication Technologies.
Since it has been proved that ICT is now at the heartland of business, the adoption of the new
ICT-model will open many doors for socio-economic and political development in all
developing countries especially, Nigeria. Since ICT plays a complementary role in the
development of industry, trade, farming, education, housing, health and financial institutions,
it is recommended that government should link ICT planning to her national economic and
social planning.
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